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The Central Bank of Nigeria, CBN, has affirmed with a statement that it will not convert forex in domiciliary accounts to naira.
The Trade and Exchange Department of the CBN aptly denies any such arrangements.
Apparently, a circular, with the CBN logo endorsed by the department have been spreading through social media platforms claiming that the CBN will convert forex to naira.
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- Details of CBN digital currency, eNaira, Bitt Inc. and things to know
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There had also been speculations around the conversion of forex in dom accounts to naira in August. The CBN verbally shut down the speculation until the spread of the said circular.
